Central Banks Increase Gold Holdings by 44 Tons in November

November, global central bank gold reserves increased by a net total of 44 tons, as reported by the IMF and other public sources. This increase was due to substantial gross purchases of 60 tons, significantly outstripping the 15 tons sold. The trend of robust central bank demand for gold continued, with major contributions from banks that have been consistent buyers throughout the year. Notable additions came from emerging market central banks, with the Central Bank of Turkey leading the purchases by adding 25 tons, followed by the National Bank of Poland and the People’s Bank of China.